Bravada Extends Gold/Silver to North and In-Fills Breeze Resource-Wind Mountain Project, Nevada
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/03/11 -- Bravada Gold Corporation (TSX VENTURE: BVA)(FRANKFURT: BRT) ('the Company') reported today that assays from ten additional reverse-circulation holes of its current 50-hole program continue to extend shallow oxide mineralization at the company's Wind Mountain project in Nevada and that further encouragement has been noted in several in-fill holes. Bravada also confirmed that a new resource calculation and PEA is on schedule for completion in the first quarter of 2012.
In-fill holes tested portions of the resource that were given low or no resource value due to a lack of previous drilling. Hole WM11-066 is particularly encouraging, having intersected a 16.8-metre interval averaging 1.148g/t Au and 32.9g/t Ag (1.617g/t Au-eq @ 70Ag:1Au) beginning at 19.8m depth, and is within a 30.5m interval from 15.2m depth averaging 0.819g/t Au and 24.3g/t Ag (1.166g/t Au-eq). Overlying this interval is a mine dump that averages 0.412g/t Au-eq from 1.5-15.2m in this drill hole.
Holes drilled to the north of the 2007 resource were successful in extending near-surface mineralization. Hole WM11-068, for example, intersected 13.7m averaging 0.604g/t Au and 18.1g/t Ag (0.863g/t Au-eq) beginning at 1.5m depth.
President Joe Kizis commented, 'These ten drill holes accomplished two important goals relative to our resource: additional shallow oxide mineralization was extended to the north, essentially at surface, and we confirmed that portions of the existing resource were not given high enough grade where drilling was not sufficiently dense. In addition, several holes provide additional confirmation that the mine dumps contain significant mineralization, which was not included in the 2007 resource.'
2011 Wind Mountain Drill Intercepts
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Inter-
Orient- T.D. From To val Au Ag Au-eq
Hole # ation (m) (m) (m) (m) (g/t) (g/t) (70:1) Comments
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Breeze Pit -
resource infill
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WM11-065 -90 94.5 0.0 13.7 13.7 0.222 7.8 0.333 Mine Dump
24.4 41.1 16.8 0.559 15.4 0.779
WM11-066 -90 91.4 1.5 15.2 13.7 0.271 9.9 0.412 Mine Dump
15.2 45.7 30.5 0.819 24.3 1.166
Including 19.8 36.6 16.8 1.148 32.9 1.617
45.7 73.1 27.4 0.211 9.1 0.341
WM11-067 -90 100.6 0.0 15.2 15.2 0.460 11.2 0.620 Mine Dump
22.9 51.8 29.0 0.715 18.3 0.977
70.1 97.5 27.4 0.214 6.1 0.301
WM11-073 -90 91.4 0.0 7.6 7.6 0.426 7.2 0.529 Mine Dump
7.6 48.8 41.1 0.479 11.3 0.640
WM11-074 -90 67.1 0.0 13.7 13.7 0.233 7.5 0.340 Mine Dump
33.5 48.8 15.2 0.384 16.6 0.621
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Breeze Pit -
North wall expansion
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WM11-068 -90 61.0 1.5 15.2 13.7 0.604 18.1 0.863
15.2 25.9 10.7 0.162 11.6 0.328
-50,
WM11-069 115 94.5 3.0 29.0 25.9 0.507 20.5 0.800
29.0 53.3 24.4 0.226 9.8 0.343
WM11-070 -90 61.0 7.6 24.4 16.8 0.212 11.9 0.382
WM11-071 -90 61.0 0.0 30.5 30.5 0.253 9.8 0.393
WM11-072 -90 61.0 0.0 19.8 19.8 0.267 10.3 0.414
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Intercepts calculated 0.2g/t Au &/or 10g/t Ag combined, intervals of
0.3g/t Au-eq reported. Nothing above or below intercept included if less
than 0.3 Au-eq & no barren intervals greater than 6m included internally
True thicknesses are estimated to be 70-90% in bedding replacement;
however, geometry uncertain adjacent to high-angle faults
A ratio of 70Ag:1Au is used to reflect expected lower recoveries of Ag
relative to Au, although detailed metallurgy has not been completed
Bravada recently completed 50 holes for a total of 4,108.5 metres. Assays are pending for three holes at the South Wind Pit Target and metallurgical, geological, and archaeological studies will continue over the next few months. An updated resource and Preliminary Economic Assessment are expected to be completed during the first quarter of 2012. Success of the 2011 drilling program, combined with increased prices of precious metals, indicates that the resource will increase significantly and the PEA will be much more robust than previously estimated.
Note: To view the map associated with this release, please click the following link: http://media3.marketwire.com/docs/bva1003.pdf.
About Bravada Gold Corporation
Bravada Gold Corporation is a member of the Manex Resource Group of companies with an exploration office in Reno, Nevada from which it is exploring its extensive (22 properties covering over 20,000 hectares) Carlin-type and low-sulfidation-type gold holdings strategically located within numerous productive gold trends in Nevada. The Company has several projects available for joint venture with qualified groups.
Joseph Anthony Kizis, Jr. (P.Geo.) is the Qualified Person responsible for reviewing the technical results in this release.
On behalf of the Board of Directors of Bravada Gold Corporation
Joseph A. Kizis Jr., Director, President, Bravada Gold Corporation
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravada Gold Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Bravada Gold Corporation
Liana Shahinian
604.641.2773 or Toll Free at 1.888.456.1112
liana@mnxltd.com
www.bravadagold.com